Data Helped, But Wild Cards Remain on Deck This morning's economic data wasn't immediately and obviously worthy of credit for the bond rally that followed, largely because the bond rally that followed was fairly small. Most of the day's gains were in place beforehand.  The data (lower ISM/employment, job openings, and job quits) helped keep bonds near the stronger end of the day's range, and thus, the stronger end of the 5 week range. There's more data on Wednesday, but the biggest wild card may be the long-awaited tariff announcement in the afternoon. Econ Data / Events ISM Manufacturing 49.0 vs 49.5 f'cast, 50.3 prev Prices 69.4 vs 65.0 f'cast Employment 44.7 vs 47.6 prev Job openings (lower = better for rates) 7.568m vs 7.630m f'cast Job Quits (lower = better for rates) 3.195m vs 3.266m prev Market Movement Recap 10:05 AM Stronger overnight and at best levels after 10am data.  MBS up 6 ticks (.19) and 10yr down 5.1bps at 4.154 12:55 PM Sideways and slightly choppy all morning.  MBS still up 6 ticks  (.19) and 10yr down 4.6bps at 4.161 04:07 PM Still flat.  MBS up 6 ticks (.19) and 10yr down 4.1bps at 4.165.

April 1, 2025 Download our Mobile App: Download our Mobile App: MBS Commentary Data Helped, But Wild Cards Remain on Deck Data Helped, But Wild Cards Remain on Deck This morning's economic data wasn't immediately and obviously worthy of credit for the bond rally that followed, largely because the bond rally that followed was fai... (read more) Mortgage Rate Watch Lowest Mortgage Rates in Nearly a Month While interest rates continue operating in a range that is generally flat and narrow over the past 5 weeks, it's also true that today's rates are on the lower edge of that range. Because there's not much of a gap between the highs and the lows, it di... (read more) Rob Chrisman Angel Oak/Brookfield Deal and More Mergers; Audit, POS, Non-QM, Automation Tools ; Webcasts and Training This Week This ain’t no April Fools economic news: not only has Hooters declared bankruptcy, but apparently there is yet another push to have credit unions pay income taxes. “Right now, leaders in Congress are discussing how to fund an extension of the Tax Cut... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.04% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.04 0.00 15 Yr. Fixed 6.14% +0.02 0.00 30 Yr. FHA 6.15% +0.04 0.00 30 Yr. Jumbo 6.88% +0.01 0.00 7/6 SOFR ARM 6.30% +0.05 0.00 30 Yr. VA 6.17% +0.05 0.00 Updates Daily - Last Update: 4/2 15 Yr. Fixed Rate 6.14% +0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.65% -0.02 0.00 15 Yr. Fixed 5.89% +0.06 0.00 Updates Weekly - Last Update: 3/27 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.93% -0.02 0.66 15 Yr. Fixed 6.31% -0.04 0.70 30 Yr. Jumbo 7.03% +0.07 0.53 Updates Weekly - Last Update: 2/19 MBS / Treasuries UMBS 30YR 5.5 100.29 +0.26 Price / Yield Change MBS UMBS 5.5 100.38 +0.35 UMBS 6.0 102.03 +0.40 GNMA 5.5 101.07 +0.21 GNMA 6.0 101.82 +0.18 Pricing as of: 4/3 4:03AM EST 10 Year US Treasury 4.0611 -0.0625 Price / Yield Change US Treasury 2 YR Treasury 3.778 -0.076 5 YR Treasury 3.794 -0.064 7 YR Treasury 3.907 -0.101 10 YR Treasury 4.050 -0.074 30 YR Treasury 4.452 -0.045 Pricing as of: 4/3 4:03AM EST Latest Video Tariffs to push all home prices higher Tariffs could be a major rewiring of the domestic and global economy, says ... Job openings and labor turnover 7.57M vs. 7.6M estimated The Fed's next cut likely to be based on a weakening labor market, says Mac... Around the Web CNBC Trump's upcoming tariffs 'will be effective immediately,' White House says The Basis Point Rocket acquiring moving companies now too?! Wait, that makes sense. Eye on Housing Affordability Pyramid Shows 94 Million Households Cannot Buy a $400,000 Home Eye on Housing Soft Job Openings Estimate for Construction PR Newswire Manufacturing PMI® at 49%; March 2025 Manufacturing ISM® Report On Business® Eye on Housing Private Residential Construction Spending Rises in February The Basis Point Rocket buying Mr. Cooper for $9.4b creates largest U.S. mortgage shop by far CNBC Treasury yields fall as investors brace for U.S. President Donald Trump's tariff policy rollout Seeking Alpha Chicago PMI rises more than expected in March Calculated Risk Blog Housing March 31st Weekly Update: Inventory up 1.1% Week-over-week, Up 30.6% Year-over-year Calculated Risk Blog Freddie Mac House Price Index Increased in February; Up 3.4% Year-over-year CNBC Euro zone inflation dips to 2.2% in March as U.S. tariffs loom Federal Reserve FEDS Paper: The Evolution of Inflation Targeting from the1990s to 2020s: Developments and New Challenges

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